Posted on 08/01/2020 10:33:25 AM PDT by SeekAndFind
NEW YORK/WASHINGTON (Reuters) - China’s ByteDance has agreed to divest the U.S. operations of TikTok completely in a bid to save a deal with the White House, after President Donald Trump said on Friday he had decided to ban the popular short-video app, two people familiar with the matter said on Saturday.
U.S. officials have said TikTok under its Chinese parent poses a national risk because of the personal data it handles. ByteDance’s concession will test whether Trump’s threat to ban TikTok is a negotiating tactic, or whether he is intent on cracking down on a social media app that has up to 80 million daily active users in the United States.
Trump told reporters onboard Air Force One late on Friday that he would issue an order for TikTok to be banned in the United States as early as Saturday. “Not the deal that you have been hearing about, that they are going to buy and sell... We are not an M&A (mergers and acquisitions) country,” Trump said.
ByteDance was previously seeking to keep a minority stake in the U.S. business of TikTok, which the White House had rejected. Under the new proposed deal, ByteDance would exit completely and Microsoft Corp would take over TikTok in the United States, the sources said.
Some ByteDance investors that are based in the United States may be given the opportunity to take minority stakes in the business, the sources added. About 70% of ByteDance’s outside investors come from the United States.
The White House declined to comment on whether Trump would accept ByteDance’s concession. ByteDance in Beijing did not respond to a request for comment.
“We are here for the long run. Continue to share your voice here and let’s stand for TikTok,” TikTok U.S. general manager Vanessa Pappas said
(Excerpt) Read more at reuters.com ...
OK Folks, will this deal ensure data security?
FROM THE ARTICLE:
Under ByteDance’s new proposal, Microsoft, which also owns professional social media network LinkedIn, will be in charge of protecting all of TikTok’s U.S. user data, the sources said.
The plan allows for a U.S. company other than Microsoft to take over TikTok in the United States, the sources added.
Microsoft did not respond to a request for comment.
I trust Microsoft about as much as I trust the Chinese.
RE: I trust Microsoft about as much as I trust the Chinese.
I gather you don’t use Windows or Office?
There are a thousand metaphors and proverbs here, not the least of which is the one about not letting the camel’s nose in the tent..........
Ownership is only one way to control a company.
No way. Who knows what’s buried in the code. It would be easier to build new then to attempt to inspect and fix the existing code.
Never been to the site, but its defenders make it sound like soft porn for pedos.
Leave it to Microsoft to be a fig leaf for China.
Oh, of course. Because Microsoft dominates the market I should trust them, just like I trust Google, Facebook, Twitter, etc. How could I have been so silly?
Oh, of course. Because Microsoft dominates the market I should trust them, just like I trust Google, Facebook, Twitter, etc. How could I have been so silly?
What is the difference between China owning TikTok and Microsoft?
Nothing. They both spy on you.
Yeah. That is a great big huge surprise.
We had a Freeper today who was castigating others who condemn TikTok, and said that they were simply sucking up the propaganda fed by Mark Zukerberg and that it was irrational.
All industry and business in China, but most especially those like TikTok are under the ownership and thumb of the Communist government, and that includes EVERYTHING.
I support a full ban of this company’s product in the USA.
Of course the POS in charge of the company is going to give up everything if he has to. The corrupt Communist Chinese government will give him enough money to shut him up, and if he resisted, there would be worse in store for him.
NO to this obvious trojan horse.
I think this is a negotiating tactic by Trump. He would be foolish to ban Tik Tok. There are a lot of young people who are getting red-pilled, and Tik Tok users actually broke the Wayfair child trafficking scandal.
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